Virtually all the index weight was allocated to stocks from the materials sector. The index is reconstituted annually and rebalanced on a quarterly basis.Īs of the end of November, the index contained 41 constituents with the largest country exposures being Australia (21.9%), China (14.8%), South Africa (12.6%), Indonesia (9.8%), Canada (7.7%), and the US (7.3%). Each company is assigned a weight based on its rank with higher-ranked firms receiving a larger weight in the index. The methodology screens for mining companies that were engaged in the production of cobalt, lithium, and nickel over the previous year.Įligible constituents are ranked based on the percentage of revenue derived from the production of these battery metals. The ETF tracks the S&P Global Core Battery Metals Index which selects its constituents from a universe of developed and emerging market stocks with market capitalizations above $100 million and average daily trading volumes greater than $1m.
With ION, there is now an ETF that offers investors an effective way to access companies meeting the soaring demand for batteries and the metals needed to make them.” Sapir, Founder and CEO of ProShares, said: “An energy revolution is underway that is transforming the way we power our lives. According to a recent Global Battery Market Report, worldwide demand for batteries is expected to grow by 25% annually until at least 2030. The fund is positioned to benefit from the increasing demand for energy storage devices used across modern, in-demand technologies such as electric vehicles, laptops, and smartphones. The ProShares S&P Global Core Battery Metals ETF (ION US) has been listed on NYSE Arca with an expense ratio of 0.58%. Battery demand is expected to grow by 25% annually until the end of the decade.
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